New Delhi, July 25 -- Intel announced on Thursday that it had completed the cutting of 15% of its workforce that was announced last quarter. Notably, the layoffs were one of the first decisions taken by new Intel CEO Lip-Bu Tan when he took over the company in March.

In a press release about the Intel earnings call, Tan said, "It's going to take time, but we see clear opportunities to enhance our competitive position, improve our profitability and create long-term shareholder value,"

As part of the cost cutting measures, Intel says it will back down from the planned projects in Germany and Poland while also ending its assmembly and testing operations in Costa Rica.

Intel had employed 1,09,800 at the end of 2024 with 99,500 of them bein...